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The inventory account of Carla Vista Company at December 31, 2020, included the following items: Inventory Amount Merchandise out on consignment at sales price (including
The inventory account of Carla Vista Company at December 31, 2020, included the following items: Inventory Amount Merchandise out on consignment at sales price (including markup of 40% on selling price) $67000 55000 Goods purchased, in transit (shipped f.o.b. shipping point) Goods held on consignment by Carla Vista 69000 Goods out on approval (sales price $37400, cost $32600) 37400 Based on the above information, the inventory account at December 31, 2020, should be reduced by $155600. $114000. $104400. $100600
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